Sweden: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Sweden

The Swedish steel and iron articles market stood at $X in 2022, increasing by 14% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Articles Of Iron Or Steel in Sweden

In value terms, steel and iron articles production surged to $X in 2022 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +46.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 41% against the previous year. Steel and iron articles production peaked in 2022 and is expected to retain growth in the near future.

Exports of Articles Of Iron Or Steel

Exports from Sweden

In 2022, steel and iron articles exports from Sweden declined to X tons, with a decrease of -2.5% against the previous year's figure. Overall, exports recorded a perceptible descent. The growth pace was the most rapid in 2021 when exports increased by 18% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, steel and iron articles exports fell modestly to $X in 2022. Over the period under review, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.0% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by 37%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Norway (X tons) was the main destination for steel and iron articles exports from Sweden, with a 22% share of total exports. Moreover, steel and iron articles exports to Norway exceeded the volume sent to the second major destination, Poland (X tons), twofold. Finland (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway totaled -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+6.4% per year) and Finland (+0.2% per year).

In value terms, the largest markets for steel and iron articles exported from Sweden were Norway ($X), the UK ($X) and the United States ($X), with a combined 36% share of total exports. Poland, Denmark, Finland, Germany, Japan, China, France, the Netherlands, Turkey and Estonia lagged somewhat behind, together accounting for a further 40%.

Among the main countries of destination, Turkey, with a CAGR of +24.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel and iron articles export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Sweden

In 2022, overseas purchases of articles of iron or steel increased by 0.4% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 18%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, steel and iron articles imports stood at $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 35% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), Germany (X tons) and France (X tons) were the main suppliers of steel and iron articles imports to Sweden, with a combined 49% share of total imports. Norway, Poland, Denmark, Italy, Lithuania, Finland, the Czech Republic, Belgium, the UK and Turkey lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steel and iron articles suppliers to Sweden were China ($X), Germany ($X) and Poland ($X), with a combined 48% share of total imports. France, Denmark, Italy, Finland, Norway, the UK, Lithuania, the Czech Republic, Turkey and Belgium lagged somewhat behind, together accounting for a further 33%.

Turkey, with a CAGR of +19.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel and iron articles import price stood at $X per ton in 2022, flattening at the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 15% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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